Bridlewood detached on oversized lot with separate-entrance basement, value-add suite conversion
Detached 4-bed in L'Amoreaux listed at $1,349,000 with a separate entrance to a finished basement, positioned for a legal secondary-suite conversion. Single-tenancy economics are negative below all-cash; the thesis is NOI lift from a second unit over a 24 to 36 month hold.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$1,349,000
Cap rate
+1.09%
Est. monthly rent
$3,350
Source: comparables_widened
Est. net spread
+$304K
6mo hold
Annualized ROI
+45%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
1.09% on the existing single-unit rent. The thesis is the income uplift after the conversion is complete, not today's number.
Projected post-conversion spread
$304,393 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
100% down to reach neutral or positive carry during the conversion window.
Rent backed by
Estimate sourced from city-wide comparables, not a CMHC fallback.
Every property published on 6Yield clears a multi-stage screen — universal financial floor, per-tier quality gate, and an editorial review on listing evidence. These bullets summarize the specific facts that cleared this property’s tier. Estimates only; not financial advice.
Fix-and-flip projection
The spread, before the buy-and-hold math.
Preliminary · adjust scope & uplift
Renovation scope
Projection
Preliminary estimate. Renovation costs use 6Yield default per-sqft figures. Post-renovation value is modeled as a multiple of list price — replace with comparable post-renovation sales for higher precision. Carrying costs include property tax, condo fees if any, and insurance; financing costs not yet modeled.
Section · Buy-and-hold backup
If you held instead. The carrying math, side by side.
Each column shows the actual monthly cash flow and cash-on-cash return at that leverage. Click a column for the full breakdown.
Acquisition
| Down payment | $472,150 |
| Mortgage principal | $876,850 |
| Land transfer tax | $20,235 |
| Closing costs | $20,235 |
| Total acquisition | $512,620 |
Monthly cash flow
| Estimated rent | +$3,350 |
| Operating expenses | -$2,122 |
| Mortgage payment | -$5,121 |
| Net cash flow | -$3,893/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $168/mo |
| Maintenance reserve | $1,124/mo |
| Insurance | $562/mo |
| Property management | $268/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=24).
Breakeven
This property turns cash-flow positive at 84.4% down.
Run your own scenario
Move the assumptions. See the math live.
Live result
All figures are estimates only and do not constitute financial advice. The sliders use the same math as the locked five-scenario calculator; only assumptions change. Total acquisition includes the down payment, land transfer tax ($20,235), and closing costs ($20,235).
Section · Investment Thesis
Why this property.
Value-add buyer targeting suite conversion in L'Amoreaux/Bridlewood. The thesis is NOI lift through formalizing the existing separate-entrance basement into a legal secondary suite, with the upper level rented or owner-occupied. At a $1,349,000 list and a 1.09% cap rate on current rent assumptions, this property does not pencil as straight income; the path forward is converting the lower level into a second income stream and re-underwriting at two-unit rents.
The submarket sits within the Sir John A. Macdonald Collegiate Institute catchment, a consistent demand driver for end-user families that anchors resale liquidity. Bridlewood and L'Amoreaux are mature post-war pockets in northeast Scarborough served by TTC bus routes feeding Don Mills and Finch stations on Line 4 and Line 1, with Highway 404 and the 401 accessible for commutes to the Consumers Road employment node and North York Centre. Bridlewood Mall and the surrounding retail corridor on Finch and Warden support tenant demand for a converted lower unit. The large-lot character of the street limits new supply of comparable detached product.
Execution favors 75% down or higher: at 75% down estimated monthly cash flow is -$741.32, and only the all-cash scenario at $1,228.25 is positive on current single-tenancy rent. Plan a 24 to 36 month hold to permit, build, and lease the secondary suite, then refinance against a two-unit appraisal. Roof at 7 years and furnace at 8 years reduce near-term capex surprises during the conversion window.
Key features
- 2,200 sqft detached on one of the largest lots in the area
- Separate entrance to finished basement, suite-conversion candidate
- Newly renovated kitchen with stone countertop
- Brand new master ensuite and lower-level flooring
- Roof 7 years, furnace 8 years
- Sir John A. Macdonald Collegiate Institute catchment
- Japanese-landscaped front and back yards
Original MLS description
Nestled in the heart of the prestigious Bridlewood neighbourhd ! This beautifully maintained 2200sqft hm offers an exceptional blend of space & elegance * Situated on one of the Largest Lots in the area, it features a professionally landscaped Japanese garden in both the front & back yards, creating a serene & picturesque setting**The newly renovated modern kitchen is upgraded W/ new stone countertop, large sink Bright & spacious bdrms provide comfort & tranquility** Perfect for family living & entertaining** Brand New Master Ensuite & Lower Level Flooring* Upgrade Light Fixtures*This home also includes a Separate Entrance to a finished basement-offering excellent potential for a basement apartment & additional rental income and this addition significantly enhances the home's value & flexibility** Located near the top-ranked Sir John A. Macdonald Collegiate Institute, parks, Shopping Mall & public transit, this home delivers unmatched lifestyle & convenience* Roof (7 Yrs) and Furnace (8 Yrs),Extra filled Roof insulation. (42912588)
All photos
49 additional · click any to expand
Section · Neighborhood
Where it sits.
L'Amoreaux
L'Amoreaux and the adjacent Bridlewood pocket in northeast Scarborough are mature, low-turnover detached neighborhoods anchored by the Sir John A. Macdonald Collegiate Institute catchment and Bridlewood Mall. The area is served by TTC surface routes connecting to Don Mills Station on Line 4 and Finch Station on Line 1, with Highway 404 and the 401 providing access to the Consumers Road employment node and North York Centre.
Large-lot detached supply is structurally limited in this pocket, which supports end-user resale demand and underwrites two-unit rental absorption for a converted lower suite.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Negative monthly cash flow at every leveraged scenario; only the 100% cash scenario produces positive carry at current single-tenancy rent.
Cap rate of 1.09% is below GTA financing costs; thesis depends on executing the secondary-suite conversion.
Secondary-suite legalization requires permits, fire separation, egress, and parking compliance; budget and timeline risk apply.
High leverage sensitivity: monthly cash flow swings from -$5,074.36 at 20% down to +$1,228.25 at 100% cash.
Rent estimate sourced from widened comparables, not direct subject-area comps; lease-up assumptions should be re-validated.